Gold price jumps Rs 220 to Rs 59,450, silver rises Rs 1,600 to Rs Rs 76,900

The price of 24-carat gold jumped Rs 220 during Friday's early trade, with ten grams of the metal selling at Rs 

59,450, according to data from the GoodReturns website. Silver price rose Rs 1,600 with 1 kg of the metal selling at Rs 76,900.

The price of 22-carat gold also increased Rs 200, with the yellow metal selling at Rs 54,500.

The price of ten grams of 24-carat gold in Mumbai is at par with that in Kolkata and Hyderabad, at Rs 59,450.

The price of ten grams of 24-carat gold in Delhi, Bengaluru, and Chennai is Rs 59,600, Rs 59,450, and Rs 59,820, respectively.

The price of ten grams of 22-carat gold in Mumbai is at par with that of gold in Kolkata and Hyderabad, at Rs 54,500.

The price of ten grams of 22-carat gold in Delhi, Bengaluru, and Chennai is Rs 54,650, Rs 54,500, and Rs 54,830, respectively.

US Gold prices steadied near two-week highs on Friday and was headed for their best week in six as Treasury yields backed off highs ahead of speeches by top central bankers including Fed Chair Jerome Powell that could guide on future interest rates.

Spot gold was down 0.1 per cent at $1,915.89 per ounce by 0120 GMT, holding below its highest since Aug 10 hit on Thursday. It has gained 1.4 per cent for the week so far. US gold futures fell 0.2 per cent to $1,943.90.

SPDR Gold Trust, the world's largest gold-backed exchange-traded fund, said its holdings fell 0.10 per cent on Thursday. 

China's gold imports via Hong Kong fell for the third straight month in July to their lowest in six months as stalling economic recovery in the country kept demand subdued.

In other metals, spot silver edged 0.1 per cent higher to $24.16 per ounce and platinum gained 0.5 per cent to $938.38.

One kg of silver is currently trading at Rs 76,900 in Delhi and Mumbai.

In Chennai, 1 kg of silver is trading at Rs 80,000.

(With inputs from Reuters)